Sirius XM Radio Inc (NASDAQ:SIRI) Sends New Satellite Into Orbit

Posted by Kristi Scott October 28, 2013 0 Comment 1695 views

On Friday, a Proton rocket and the Breeze M upper-stage guided a new satellite into orbit. It is on a 15-year mission to broadcast hundreds of news, music and entertainment channels to Sirius XM Radio Inc (NASDAQ:SIRI)’s 25M subscribers spread across North America. The satellite weighs 6.6 tons with its full fuel load and Sirius’s FM6 spacecraft is now bound to take up an orbital position 22,300 miles just over the equator. From this position it will now expand the company’s existing fleet of satellites.

Expanding the network

Once the FM6 is operational, it will be the 10th satellite in Sirius XM Radio Inc (NASDAQ:SIRI)’s space network. This includes the payloads that were launched prior to the Sirius Satellite Radio and the XM Satellite Radio merger in 2008. The Sirius FM6 is outfitted with a huge deployable reflector and has been built by Space Systems/Loral in California. Loral says that this particular spacecraft is one of the most advanced ones in the current market. Its solar arrays have been designed to generate almost 20KW of power even at the fag-end of its operational life.

The new phase

With this launch, Sirius XM Radio Inc (NASDAQ:SIRI)’s 2nd generation satellite fleet is complete and is the start of the 3 year construction spending phase, said the company’s CFO and executive VP, David Frear. The next Proton launch is slated to take place in Mid – November and the Raduga communications-satellite will be used for the Russian military. The next commercial proton-flight is scheduled for 8 December and will use a Inmarsat 5 F1 satellite for Global Xpress, the London-based Inmarsat’s, super-fast broadband service.

About the company

Sirius XM Radio Inc (NASDAQ:SIRI) broadcasts its entertainment, music, sports, talk, comedy, news, traffic & weather channels in the U.S for a subscription fee via the 2  satellite radio systems that the company owns. Subscribers are able to receive some of its music & other channels via the Internet, as well as through mobile device apps.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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